Canada Wide

How does an annuity work?

An annuity works by providing a guaranteed income for your lifetime. Along with government pensions and workplace pension, it builds the security of a lifetime income.

Income for life

A life annuity is a contract with a life insurance company which, in exchange for a lump sum deposit, agrees to pay you a guaranteed amount as long as you live. The payment is based on your age, sex, interest rates of bonds and various other actuarial factors. In Canada, life annuities may be purchased with registered funds such as RRSP's, RRIF's, LIRA's and the like. They may also be purchased with money that you have saved.

Comparing the best quotes

Many people take the easy way out by buying the first company quote offered to them. This can result in a loss of income as variations in payouts from various companies can be tremendous! It is not uncommon to see variations of 10% or more, with the leading company paying $1000 a month and the lowest, $900.

What People Say

Your fast turn-around time made the decision making process for me and my wife very easy, and having you run interference on our behalf to facilitate the paperwork with the life insurance companies was also enormously helpful.

Robert Stanley Ontario, Canada

Dealing with Ivon and Hughes Trustco is a rarity today. He actually is interested in you and cares about your needs and then he delivers. He listens patiently to your questions, gets the facts right, and delivers exactly what you need.

Mike Higgs Ontario, Canada

Hughes Trustco handled several life annuities for me on a very satisfactory basis. Ivon drove all the way from Montreal to Toronto to meet my wife and me and be sure we were well served.